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Axiata Group (6888) Fair Value & Analysis

Communication Services · MY · Market cap 18.8B MYR

AG Axiata Group 6888 · KLSE
Price1.89 MYR
Fair Value1.13 MYR
Upside-40.2%
Quality48/100
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Weak Growth
Thin margins · 4.1% net margin
Low debt · generates free cash flow
4.88% dividend yield
Mixed vs. peers (6/15)
Narrow moat 43/100
Evidence: Medium Range 1.02 MYR – 1.29 MYR Share as image

Fair value as of: Jul 18, 2026

From 24 valuation models · updated 23 days ago

Share price −9.1% over the past month.

Below-average quality, and screening another 40% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (1.29 MYR). The favourable scenario is already priced in.
  • Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

3.49 MYR 1.59 MYR Fair Value 1.13 MYR Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range 1.59 MYR – 3.49 MYR · fair‑value band 1.02 MYR – 1.29 MYR · the 1.89 MYR price screens above the 1.13 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

Axiata Group (6888) currently trades at 1.89 MYR, while our model-based Fair Value estimate is 1.13 MYR, implying the stock looks roughly 40.2% overvalued today. The Quality Score stands at 48/100 (below-average quality), in the Communication Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Axiata Group generated revenue of 11.7B MYR at a net margin of 4.1%. Revenue declined 3.2% year over year. It earns a return on equity of 2.4%. Net debt stands at 13.9B MYR. Fundamentals as of Jul 18, 2026

Our scenario range runs from 1.02 MYR (bear case) to 1.29 MYR (bull case); at 1.89 MYR, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 31% below its 52-week high and 1% above its 52-week low, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at 32% fair-value upside, at -40%, 6888 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF 2.39 MYR 3.48 MYR 5.34 MYR 80
Residual Income 1.56 MYR 1.50 MYR 1.18 MYR 76
Rev-Margin DCF 1.38 MYR 2.17 MYR 3.15 MYR 74
All 24 models by family
DCF Models
FCF DCF 2.26 MYR 3.38 MYR 5.45 MYR 38
Owner Earnings 1.73 MYR 2.64 MYR 4.32 MYR 31
5Y Revenue Exit 1.38 MYR 2.10 MYR 3.14 MYR 39
5Y EBITDA Exit 3.32 MYR 5.46 MYR 8.29 MYR 41
5Y P/E Exit 0.8500 MYR 1.18 MYR 1.58 MYR 38
10Y Revenue Exit 1.67 MYR 2.23 MYR 2.82 MYR 36
10Y EBITDA Exit 2.88 MYR 4.31 MYR 5.84 MYR 37
10Y P/E Exit 1.38 MYR 1.66 MYR 1.90 MYR 35
Earnings-Based
Graham-Dodd 0.2700 MYR 0.3300 MYR 0.3700 MYR 54
EPV 0.3600 MYR 0.5200 MYR 0.6500 MYR 59
Dividend Discount
Gordon GGM 0.9200 MYR 1.00 MYR 1.14 MYR 70
DDM Multi-Stage 0.9200 MYR 1.15 MYR 1.48 MYR 61
Multiples
P/E Multiple 0.6500 MYR 0.8700 MYR 1.09 MYR 63
P/S Multiple 0.5100 MYR 0.6700 MYR 0.8400 MYR 58
P/B Multiple 0.5100 MYR 0.6700 MYR 0.8400 MYR 55
EV/EBIT 1.46 MYR 2.15 MYR 2.83 MYR 53
EV/EBITDA 4.76 MYR 6.55 MYR 8.33 MYR 54
EV/Revenue 0.9700 MYR 1.63 MYR 2.30 MYR 43
Asset-Based
NCAV (Graham) 1.11 MYR 1.48 MYR 2.22 MYR 50
Growth DCF
Growth DCF 2.39 MYR 3.48 MYR 5.34 MYR 80
Rev-Margin DCF 1.38 MYR 2.17 MYR 3.15 MYR 74
Economic Profit
Residual Income 1.56 MYR 1.50 MYR 1.18 MYR 76
ROIC Compounder 0.3600 MYR 0.5200 MYR 0.6500 MYR 72
Growth Earnings
Growth-Adj P/E 0.4600 MYR 0.6600 MYR 0.8600 MYR 68

Widest divergence: DCF Models (2.23 MYR) versus Earnings-Based (0.3300 MYR). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 11.7B MYR
Revenue growth (YoY) -3.2%
Net margin 4.1%
Return on equity 2.4%
Free cash flow 2.7B MYR FY2025
P/E ratio 68.3
More key figures
Operating margin 20.9%
EPS (TTM) 0.0300 MYR
Dividend yield 4.9%
EPS growth (YoY) +77.8%
Net debt 13.9B MYR FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 48/100

Of which business quality 47 · Market factors (momentum, volatility) 32

Profitability 17
Margins and returns on capital today
Quality Growth 13
Are margins and returns improving?
Cashflow 82
Earnings quality: real cash, not paper profit
Fin. Strength 29
Balance sheet, leverage, solvency risk
Investment 71
Disciplined investing over empire-building
Low Volatility 79
Calm price path (market factor)
Momentum 17
Price trend over the last 3–12 months (market factor)
52W Momentum 5
Distance to the 52-week high (market factor)
Net Issuance 81
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Axiata Group Berhad, an investment holding company, provides telecommunications services. It operates through Digital telco/ Mobile, Infrastructure, Digital, and Others segments.

Full company description

Axiata Group Berhad, an investment holding company, provides telecommunications services. It operates through Digital telco/ Mobile, Infrastructure, Digital, and Others segments. The company provides mobile services and other services, such as provision of interconnect services, sale of devices, pay television transmissions, broadband services, and digital business and others; and telecommunication infrastructure and related services. It offers telecommunication network equipment; international carrier and enterprise; technical and operations support; media and digital; software development; data and backbone, and fixed wireless and transmission infrastructure; television broadcasting and direct-to home satellite pay television; and financial services, as well as e-commerce distribution business and rendering solutions. In addition, the company is involved in the provision of services related to IT; venture capital fund; network development, operations, and maintenance; digital credit facilities; and software licensing; and e-learning products and services. Further, it offers digital analytics services; multimedia advertising services and creative content, as well as multimedia advertising sales support services; micro-financing and insurance, and money lending; e-wallet mobile application; data processing and management consultation services; and holds securities and financial instruments. Additionally, the company is involved in the property development and letting of property for commercial purposes; outsourcing and digital financial activities; sale of IT enabled equipment; provision of manpower for call center operations; development and operation of electronic commerce infrastructure for the healthcare sector; provision of IT, information, and communications technology services to non-mobile network operator business activities. The company was incorporated in 1992 and is headquartered in Kuala Lumpur, Malaysia.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Axiata Group reported revenue of 11.8B MYR in FY2025 versus 25.9B MYR in FY2021, a compound −17.9%/yr. Reported net income was 365M MYR in FY2025, compounding −26.9%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
11.8B MYR
Latest YoY
−47.4%
Avg. growth/yr (3Y)
−18.5%
Avg. growth/yr (5Y)
−13.4%
Avg. growth/yr (20Y)
−0.8%
Revenue −17.9%/yr
FY21 25.9B MYR
FY22 21.7B MYR
FY23 22.3B MYR
FY24 22.3B MYR
FY25 11.8B MYR
Net income −26.9%/yr
FY21 1.3B MYR
FY22 9.8B MYR
FY23 −2.0B MYR
FY24 947M MYR
FY25 365M MYR

6888 screens 40% overvalued. Compare with China Mobile Limited →

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Cite: Fair Value Calculator (2026). "Axiata Group Fair Value". https://www.fairvalue-calculator.com/stock/6888

Peer Group

Telecom Services · 252 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 48 · Below median
Fair Value upside −40% · Bottom 25%
Return on equity (TTM) 2% · Below median
Return on assets 2% · Below median
Net margin (TTM) 4% · Below median
Operating margin (TTM) 21% · Top 25%
Revenue growth -3% · Bottom 25%
Dividend yield (TTM) 4.9% · Above median
Debt / equity 0.41× · Higher than median

Valuation Multiples vs Telecom Services median · lower = cheaper

P/E (TTM) 68.3× · Pricier than 75% of peers
P/B 0.93× · Cheaper than median
P/S (TTM) 1.62× · Pricier than median
P/FCF 1.7× · Cheaper than median
EV/EBITDA 5.4× · Cheaper than median
PEG 0.48× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 30
FUTURE 0 · sector 15
PAST 10 · sector 28
HEALTH 79 · sector 89
DIVIDEND 98 · sector 72

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Telecom Services stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
China Mobile Limited 600941 ¥89.98 ¥109.88 +22%
T-Mobile US, Inc TMUS $187.61 $172.67 -8%
Bharti Airtel Limited BHARTIARTL ₹1,922 ₹941.55 -51%
China Telecom Corporation 601728 ¥6.01 ¥8.36 +39%
América Móvil, S.A. AMXB 23.07 MXN 30.35 MXN +32%
Vodafone Group VODN 259.50 MXN 507.27 MXN +95%
Advanced Info Service Public Company ADVANC 379.00 THB 286.77 THB -24%
Chunghwa Telecom Co 2412 133.50 TWD 100.00 TWD -25%
China Unicom (Hong Kong) Limited 0762 HK$6.50 HK$13.03 +100%
Telefónica, S.A TEFN 75.67 MXN 111.01 MXN +47%

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Frequently asked questions

Is Axiata Group (6888) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of 1.13 MYR versus a price of 1.89 MYR, about −40% (overvalued).
What is the fair value of 6888?
Our model-based fair value for Axiata Group is 1.13 MYR (as of Jul 18, 2026), built from audited fundamentals. The current price is 1.89 MYR.
What is the quality score of 6888?
Axiata Group has a Quality Score of 48/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Axiata Group (6888)?
Axiata Group reported trailing-twelve-month revenue of about 11.7B MYR (latest available figure, as of Jul 18, 2026).
What is the net profit margin of 6888?
The net profit margin of Axiata Group is about 4.1%, meaning it keeps roughly 4.1% of revenue as net income. Based on the latest reported figures.
Does Axiata Group pay a dividend?
Axiata Group currently shows a dividend yield of about 5.13% relative to its recent price (as of Jul 18, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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